Google Banning Cryptocurrency-Related Advertising from all through Its Platforms


Taking a cue from Facebook, Google has announced that it will ban advertisements for cryptocurrencies and other "speculative financial products" across its ad platforms.

Google's move to ban crypto-currency-related ads is part of what Spencer described as a broader crackdown on bad actors in the advertising realm.

In Google's yearly trust and safety advertising report, the company said it took down 3.2 billion ads a year ago that it found to be in violation of its policies, a jump from the 1.7 billion it took down in 2016.

Stansfield said that Google was constantly updating policies as new threats emerged, adding that in 2017, 28 new advertiser policies and 20 new publisher policies were added to combat new threats and improve ad experience online.

Once news of Google's new policy began making the rounds, cryptocurrency markets didn't react very favorably.

A portion of Google's ad policy change banning cryptocurrencies.

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"We equally removed 66 million "trick-to-click" ads as well as 48 million ads that were attempting to get users to install unwanted software".

It goes without saying that scammers will try to come up with ways to circumvent Google's bans on such ads.

The company also said it reviewed more than 11,000 sites for suspected violations of its policies on misrepresenting content; more than half were blocked, and 90 publishers had their accounts closed. Google is also honing in on adverts promoting gambling and ads that make a song and dance about health products and schemes that are rather illegitimate. More than 3.2 billion ads were removed previous year, an average rate of 100 per second.

The tech giant announced today in a blog post that ads related to cryptocurrencies and binary options would no longer be allowed to serve on both the company's proprietary and affiliated advertisement platforms. The company said it also blocked nearly 90,000 websites and 700,000 mobile apps for violating its policies.

The update to its financial services policy comes into effect in June and will hit a wide range of products and services, with the primary focus of the statement being contracts for difference (CFDs), rolling spot forex, and financial spread betting.

Aside from scams, governments are also beginning to step in with plans to regulate cryptocurrency over fears that it is being used to fund criminal activity. "But such policies to blanket ban certain products will have an adverse impact on its adoption as well", Mishra told IANS.